Zacks Research Upgrades Akzo Nobel (OTCMKTS:AKZOY) to "Hold"

Key Points

• Zacks Research upgraded Akzo Nobel (OTCMKTS:AKZOY) from "strong sell" to a "hold", and several major brokers (Goldman Sachs, Deutsche Bank, Barclays, Wall Street Zen) have recently trimmed ratings to leave a MarketBeat consensus of "Hold" (one Strong Buy, six Hold).
• In the latest quarter Akzo Nobel reported EPS of $0.22, missing estimates by $0.07 while revenue of $2.80 billion topped expectations; the company recorded a 6.49% net margin and 13.73% return on equity.
• Shares opened at $18.73 (near a 12‑month low of $18.04) with a market cap of $9.62 billion and a PE ratio of 13.28, and the stock trades below its 50‑day and 200‑day SMAs of $21.39 and $22.22 respectively.

Akzo Nobel (OTCMKTS:AKZOY - Get Free Report) was upgraded by investment analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Monday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft cut shares of Akzo Nobel from a "buy" rating to a "hold" rating in a report on Tuesday, March 24th. Wall Street Zen cut shares of Akzo Nobel from a "buy" rating to a "hold" rating in a report on Saturday, March 7th. The Goldman Sachs Group cut shares of Akzo Nobel from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 1st. Barclays cut shares of Akzo Nobel from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 19th. Finally, UBS Group upgraded shares of Akzo Nobel to a "hold" rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold".

Akzo Nobel Trading Down 1.0%

Akzo Nobel stock opened at $18.73 on Monday. The firm has a 50 day simple moving average of $21.39 and a 200-day simple moving average of $22.22. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.44 and a quick ratio of 1.08. The stock has a market capitalization of $9.62 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 1.27 and a beta of 1.12. Akzo Nobel has a 12-month low of $18.04 and a 12-month high of $24.52.

Akzo Nobel (OTCMKTS:AKZOY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 3rd. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.07). The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.51 billion. Akzo Nobel had a net margin of 6.49% and a return on equity of 13.73%. As a group, equities research analysts expect that Akzo Nobel will post 1.52 EPS for the current fiscal year.

Akzo Nobel Company Profile

Akzo Nobel N.V. is a Dutch multinational company specializing in paints, coatings and specialty chemicals. Established through the 1994 merger of Akzo and Nobel Industries, the company traces its roots back to chemical and saltpeter production in the Netherlands. Today, Akzo Nobel is recognized as one of the world's leading coatings manufacturers, serving both decorative and industrial markets.

The company's business is organized into three principal segments: Decorative Paints, Performance Coatings and Specialty Chemicals.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.